Inflation above target range
South Korea’s annual inflation rate was 4.2 percent in November, official figures showed Thursday, back above the central bank’s target range despite a revision of the consumer price index.
The figure announced by Statistics Korea compares with a revised 3.6 percent increase in October. But it was below the median forecast for a 4.5 percent rise in a Dow Jones Newswires poll of seven economists.
Month-on-month, the index rose by 0.1 percent in November.
The increase – blamed on food prices – came despite a recalibration of the price index that cut the inflation year-to-date figure by 40 basis points.
A South Korean market vendor (R) waits for customers at her food stall at Namdaemun market in Seoul in September 2011. South Korea's annual inflation rate was 4.2 percent in November, official figures showed Thursday, back above the central bank's target range despite a revision of the consumer price index. (AFP)
The Bank of Korea has set a 2-4 percent target range for inflation this year.
http://news.yahoo.com/koreas-inflation-above-target-range-234444564.html
Category: Korea
